The successor to LG's flagship smartphone Optimus G will be powered by the speedy Qualcomm Snapdragon 800 processor, the companies announced Wednesday night.

The new smartphone, which as of yet hasn't been officially named, is expected to be announced later this year. The continued collaboration between the two companies isn't surprising considering that the LG Optimus G was one of the first smartphones on the market to be powered by the Snapdragon S4 Pro.

The companies promise that the next iteration of the Optimus G line will "redefine the smartphone experience" by tapping the Snapdragon 800's ability to increase data speeds and reduce latency on LTE networks. The companies promise the new system-on-a-chip delivers up to 75 percent better performance than its predecessor, a claim backed up by CNET benchmarks.

CNET's Eric Franklin put Qualcomm's new chip through the paces at a recent benchmarking event and found that its could render real-time graphics so fast that it made current mobile processors look "pokey" in comparison.

However, it's unknown what effect the Snapdragon 800's impressive speeds will have on battery life. Qualcomm said to expect thermals that compensate for the chip's increased zippiness, but CNET's editors weren't afford the several hours (or more) necessary to actually test this.